What 2025 Holds for Victorian Homebuyers: Key Incentives You Should Know

For first-home buyers eyeing the Victorian property market, 2025 has brought some welcome news. With housing affordability still a concern for many, the Victorian Government has introduced a suite of financial support measures to help more people take that all-important first step onto the property ladder.

Here’s what’s on offer and how conveyancers like All Hours Conveyancing can help you navigate the legal details to make the most of each opportunity.

1. Stamp Duty Relief

Stamp duty can be a major hurdle for buyers, but this year’s incentives go a long way in reducing that burden:

• Full exemption for first-home buyers purchasing properties valued up to $600,000.
• Concessional rates for purchases between $600,001 and $750,000.
• Off-the-plan concessions expanded to all buyers within a strata subdivision, not just first-home buyers or owner-occupiers.

Note: These benefits are subject to eligibility. A thorough contract review and early examination of the Section 32 can save you time and money.

2. First Home Owner Grant (FHOG)

If you’re building or buying a brand-new home, the FHOG remains a significant financial boost:

• Grants of $10,000 are available for new homes valued up to $750,000.
• Applicants must be Australian citizens or permanent residents.
• You must live in the home as your principal place of residence for a minimum of 12 months.

Pro tip: This grant can assist with your deposit or be applied to cover legal and settlement-related expenses.

3. Victorian Homebuyer Fund (Shared Equity Scheme)

For eligible buyers, the Homebuyer Fund offers another path to ownership with less upfront savings required:

• Enter the market with as little as a 5% deposit.
• The Victorian Government may contribute up to 25% of the purchase price.
• For Aboriginal and Torres Strait Islander applicants, this can increase to 35%.
• No Lenders Mortgage Insurance (LMI) required.

Important: This is a shared ownership model. We recommend seeking legal advice to ensure you fully understand your responsibilities under the equity agreement.

Final Word: Legal Clarity Matters

All Hours Conveyancing, our role is to help you move forward with clarity and confidence. With over two decades of experience supporting Melbourne buyers, we collaborate with your agent and mortgage broker to protect your interests from contract signing through to settlement.

Thinking of buying?
Get in touch with our team today, and let’s talk about how we can help you unlock the full value of these 2025 homebuyer supports.

#FirstHomeBuyer #Homeownership #StampDuty #FHOG #SharedEquity #MelbourneProperty #ConveyancingSupport #AllHoursConveyancing

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This can be true whether it’s your first time ever or if you’ve gone through the process what feels like hundreds of times. That’s why having a conveyancer you can trust working on your behalf during a property sale is such a fantastic idea: a skilled and experienced Melbourne conveyancer can save you loads of frustration and stress.

Of course, conveyancers in Melbourne aren’t all created equal. How can you tell a quality one from another that might look and sound the same on the outside but can’t actually provide the same levels of service that you need to complete your property sale? No worries — we’ve got the five best-kept secrets for separating the wheat from the chaff when it comes to good conveyancers in Melbourne. Let’s get started!

1. You Need to Choose a Licensed Conveyancer

This one is easy. Conveyancers in Melbourne need to be licensed by the state in order to complete property transactions. This is on a state-by-state basis, mind you, so if you’re moving to Melbourne from NSW or South Australia, you’ll need to find one that’s specifically licensed for Victoria — otherwise, you’re just wasting your time. Not only that, but you’ll then have to start the entire process all over again. Talk about frustrating!

2. Your Melbourne Conveyancer Should Be a Member of AIC-Vic

As the professional association of conveyancers in Victoria, the state chapter of the Australian Institute of Conveyancers (AIC-Vic) is the relevant industry body that any serious conveyancer working within Victoria will belong to. With AIC-Vic’s requirements of continuing education, extensive knowledge of the industry and the latest regulations, and its high standards of conduct and professionalism, members of this association are a cut above.

It’s true that you don’t have to be a member of this industry body in order to provide conveyancing services in Victoria. At the same time, though, it’s quite rare that you’ll go wrong by selecting an AIC-Vic member as your Melbourne conveyancer. That being said, going with a member in good standing is probably one of the quickest and easiest ways to ensure your choice is going to be a cut above the rest.

3. They Need to Be Easily Reachable Via Phone and Otherwise

Communication is crucial when it comes to property transactions. This is a universal truth: it doesn’t matter if you’re buying or selling, or if you’re completing a residential or a commercial sale — your conveyancer needs to be reachable by phone or other methods at the drop of a hat in the event of any sudden issues emerging.

We get it; not everyone keeps the same schedule. Asynchronous communication is a real thing, and leaving a message for someone to get back to you is perfectly acceptable — under normal circumstances. Email is just fine for routine and non-urgent matters, but when every second counts, knowing that you can pick up the phone and ring up your conveyancer to talk to someone immediately is a major boon in that conveyancer’s favour.

4. A Good Conveyancer Has the Right Mix and Number of Staff

Just like any other business, conveyancer firms come in all shapes and sizes. There’s plenty of varying opinions regarding what’s the ideal size of a conveyancing company, but the truth is that a good Melbourne conveyancer will have enough staff on hand to provide full engagement with your property sale at all times.

Generally, this means the more conveyancers working under one roof the better. The more conveyancers a company has on payroll, the better they’ll be able to handle the clients coming to them for help on property transactions. Beware, though: sometimes this can backfire. Any conveyancer of any size can end up biting off more than it can chew by taking on too many clients at once. In this case, you might not be guaranteed the personal attention you deserve!

5. The Best Conveyancers in Melbourne Just “Fit”

A property sale is likely to be the biggest decision you make this year or even this decade. This makes it of the utmost importance to choose a conveyancer that fits all your needs, not just a single variable like price. You pay for what you get, after all, and sometimes going with the Melbourne conveyancer who’s charging the most modest fees for handling your property sale isn’t going to be the best option for getting the transaction done properly and to your liking.

Choosing The Right Conveyancer

The decision on who to choose as your representative in a property transaction needs to encompass more than just the single facet of cost. It’s helpful in this case to compare two or more conveyancers to see what, exactly, you’re getting, and use that to inform your decision as well. Sometimes the cheapest option doesn’t have as much value as one that is slightly more expensive, based on the level of service you receive. Finally, don’t downplay your intuition. If you’ve got a gut feeling warning you off from one conveyancer in favour of another, don’t discount that — you might be trying to tell yourself something very important.

Why Not Choose All Hours Conveyancing As Your Perfect Melbourne Conveyancer

Tired of struggling to find the perfect conveyancer in Melbourne for your property transaction? Look no further: here at All Hours Conveyancing we’ve got you covered. From licensing and AIC-Vic accreditation to a skilled, experienced, and dedicated staff that’s easily reachable by phone and some of the best value for money, All Hours Conveyancing ticks all the boxes for the best property transaction experience ever.

Knowledge & Expertise

All Hours Conveyancing has the knowledge and expertise you can trust. We’ll work tirelessly to ensure your transaction goes through without a single hitch and that you get the personal attention you deserve. Choosing the right conveyancer is so critical these days.

Don’t rely on a conveyancing company that will let you down at the worst possible moment — learn how we can make your next transaction smooth sailing. Contact us today!

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Home loans are so crucial to buying success, and in part 1 of this blog we addressed home loan amounts, purposes and types. 

Today we’re going to close out the conversation, giving you expert advice on deposits, as well as loan features and fees, and things to consider. 

Saving for a Home Loan Deposit

Different loans require you to provide a different deposit amount, but saving 20 percent of your chosen home’s value will put you in a strong position. Not all loans require 20 percent upfront, but a bigger deposit will save you money in many ways. Here’s a few advantages of a bigger deposit: 

1. They reduce the amount you need to borrow
2. They make your loan application stronger
3. They prevent you from having to pay Lenders Mortgage Insurance (LM), an insurance cost when you want to borrow in excess of 80 percent 

6 Features to Look For

What should you look for when casting your eyes over a home loan? Loans are about more than just low prices. Here are a few features to look for: 

1. Split option – having a part fixed, part variable loan
2. Interest only – an option to consider for investment properties
3. Lump sum repayments – the ability to make large payments as necessary
4. Additional repayments – the ability to make extra payments
5. Mortgage portability – the ability to transfer your loan to another property
6. Redraw facility – the ability to access excess money you have added to your mortgage 

Choosing A Home Loan – 11 Critical Fees to Look For

Before accepting a home loan based on its range of extra features, stop to consider the possibility of hidden costs. These nasty surprises can derail your budget – the basis on which you selected your loans. Some fees your loan may include are: 

1. Application fees
2. Ongoing costs
3. Additional repayment fees
4. Late fees
5. Exist fees
6. Discharge costs
7. Stamp duty
8. Portability charges
9. Redraw fees
10. Re-fix fees
11. Switching charges

Final Thoughts Before Your Loan

We understand that committing to a loan is just as a big as buying a house. While we think we’ve covered a lot in these two blogs, there are still a few final things to think about. Here are some final thoughts: 

• Plan for flexibility – while your repayments should equal around 30 percent of your income, an extra few percent will protect against unexpected personal or financial changes, as well as market fluctuations
• Documentation – if you don’t need a low doc loan, organising your pay slips, bank statements, credit history and more can fast track your approval
• Fine Print – Don’t just read every line – including the product disclosure statement – ensure that you understand the implications and talk to an independent expert if you’re ever unsure 

There’s the last of our general home loan advice. Remember to read Choosing a Home Loan part 1 of our 2-part blog if you haven’t already and contact our conveyancing experts for more personalised information. All Hours Conveyancing are Melbourne’s property experts, and we can get you into your home faster. Call us on {{{phone}}}.

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A home loan might seem like one of those intimidating aspects, but figuring this out can put you on the path to your dream property. 

Today we’re going to begin our exploration of home loans, examining the right amount and the right type for your purpose. 

The Amount

Attempting to borrow too little or too much will ultimately sabotage your home buying experience. That’s why you should always examine your income and expenses and any foreseeable factors that might change this in the future. 

Once you have crunched the numbers you can figure out your total mortgage repayments. Generally they shouldn’t exceed 30 percent of your income. 

The Purpose

People buy houses for more than one reason, and the nature of your loan may depend on this. Some different reasons you might need a loan include: 

• Buying a home to rent out or renovate for resale
• Accessing the equity in your home through a line of credit
• Borrowing against the equity in your home through a reverse mortgage
• Buying a home to live in 

Choosing a Home Loan Type

With so many options available it’s easy to be overwhelmed in the search for a home loan. To assist you, here are 4 different types of home loans and the things to consider when assessing them. 

1. Fixed Mortgage

When you choose these types of loans, the repayments you make will remain the same for a set period. Because of their stability, these loans are typically higher than other, variable options. 

A fixed mortgage gives you greater ability to manage your budget and gives you protection against the fluctuating market. On the other hand, if interest rates do drop you will be unable to enjoy those savings. 

2. Variable Mortgage

 Variable loans increase and decrease based on the cash rate. These loans usually follow the Reserve Bank’s official rates and are generally lower than fixed rates. 

While you can enjoy a lower base rate, your repayments are less secure, making it more difficult to budget from month to month. 

3. Introductory Rate

If you’re a first homebuyer or need time to ease into home loans, introductory rates might be ideal for you. They usually offer you a lower rate for the first year to assist you in your adjustment – either in a fixed or variable form. 

Be sure to analyse these carefully though, as the rates after the introductory deal may put you in a worse position in the long term. 

4. Low Doc Loans

There’s usually a lot of paperwork involved in loan applications. If you have recently started working or are a business owner, you might not have all the information required. Low doc loans waive much of this paperwork so you can get started. 

These do involve some risk on the lenders part though, so you may be subject to a higher than usual rate and additional fees. 

To learn more about choosing a home loan type, stay tuned for part 2 of this blog, where we explore deposits, features and other considerations. If you need help navigating your home loan in Melbourne, talk to All Hours Conveyancing. Our team can get you into your new home faster. Call {{{phone}}} today.

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